An extreme case where either the quantity demanded (Qd) or supplied (Qs) changes by an infinite amount in response to any change in price is called:
a. perfect elasticity.
b. imperfect elasticity.
c. strong elasticity.
d. weak elasticity.
a. perfect elasticity.
An extreme case where either the quantity demanded (Qd) or supplied (Qs) changes by an infinite amount in response to any change in price is called perfect elasticity.
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